Innovation in conservative and entrepreneurial firms: Two models of strategic momentum

Two very different models of product innovation are postulated and tested. The conservative model assumes that innovation is performed reluctantly, mainly in response to serious challenges. It therefore predicts that innovation will correlate positively with environmental, information processing, structural and decision making variables that represent, or help to recognize and cope with these challenges. In contrast, the entrepreneurial model supposes that innovation is always aggressively pursued and will be very high unless decision makers are warned to slow down. Thus negative correlations are predicted between innovation and the variables that can provide such warning. Correlational and curvilinear regression analyses revealed that each model was supported by conservative and entrepreneurial sub-samples, respectively, in a diverse sample of 52 Canadian firms.     

Inflation and growth in the United Kingdom: A longer-run perspective

This paper analyzes British growth and inflation over the past 90 years. The core of the paper is a simulation analyses of a monetary model of the U.K. economy, which establishes the systematic influence of domestic and overseas impulses on trends in British prices, output and the balance of payments in different subperiods. The analysis establishes a coherent explanation of varying British economic performance, which places considerable weight on the relative growth of the government sector, and the accompanying monetary expansion or contraction, variable world price developments, and the successive devaluations of the pound.     

I. Allgemeine Wirstchaftslehre

Ohne Zusammenfassung     

Further evidence on the robustness of the Tobit estimator to heteroskedasticity

When the error terms in a Tobit model are heteroskedastic, the MLE which assumes homoskedasticity is inconsistent. For the special case of a constant-term-only model, we investigate the size of the inconsistency. The inconsistency is greater the greater the heteroskedasticity and the greater the degree of censoring (i.e., the greater the number of limit observations). However, the inconsistency is much smaller than in the corresponding truncated-normal model considered by Hurd.     

The independence transformation of specific substitutes and specific complements

When all n observed goods are specific substitutes (complements) in Houthakker's (1960) sense, the independence transformation yields one transformed good in which all observed goods are positively represented, viz., the transformed good with the smallest (largest) income elasticity. The n – 1 other transformed goods are all contrasts between observed goods.     

Verbraucherschutz bei öffentlichen Leistungen — eine große Lösung? Zu Youngs Beitrag in ZVP, 1, 1977/3

Ohne ZusammenfassungHans Peter Bull war noch bei Abfassung dieses Beitrages Professor für Öffentliches Recht am Fachbereich Rechtswissenschaft II (Einstufige Juristenausbildung) der Universität Hamburg und ist jetzt Bundesbe-auftragter für den Datenschutz, D-5300 Bonn, Graurheindorferstr. 198.